Lucid Group’s (LCID) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Friday morning,Benzinga reports.

A number of other research firms have also recently commented on LCID. Cfra set a $2.00 target price on Lucid Group in a research note on Thursday, October 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $4.00 target price on shares of Lucid Group in a research note on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Thursday, September 12th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.18.

Lucid Group Price Performance

Shares of Lucid Group stock traded down $0.01 during trading on Friday, hitting $2.21. The stock had a trading volume of 103,146,999 shares, compared to its average volume of 35,251,543. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of -1.83 and a beta of 1.11. Lucid Group has a 12 month low of $2.02 and a 12 month high of $5.31. The business’s 50-day moving average is $3.16 and its 200 day moving average is $3.08. The company has a current ratio of 3.96, a quick ratio of 3.45 and a debt-to-equity ratio of 0.59.

Insider Buying and Selling at Lucid Group

In other news, Director Public Investment Fund bought 374,717,927 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $970,519,430.93. Following the completion of the acquisition, the director now owns 8,041,393 shares in the company, valued at approximately $20,827,207.87. This trade represents a -100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lucid Group news, SVP Eric Bach sold 89,959 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $3.14, for a total transaction of $282,471.26. Following the completion of the transaction, the senior vice president now owns 2,028,268 shares of the company’s stock, valued at approximately $6,368,761.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Public Investment Fund purchased 374,717,927 shares of Lucid Group stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $2.59 per share, with a total value of $970,519,430.93. Following the transaction, the director now directly owns 8,041,393 shares of the company’s stock, valued at $20,827,207.87. This represents a -100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 61.26% of the company’s stock.

Institutional Investors Weigh In On Lucid Group

Several institutional investors and hedge funds have recently made changes to their positions in LCID. Norden Group LLC bought a new stake in shares of Lucid Group during the first quarter valued at approximately $32,000. SG Americas Securities LLC increased its position in shares of Lucid Group by 226.4% during the first quarter. SG Americas Securities LLC now owns 434,444 shares of the company’s stock valued at $1,238,000 after acquiring an additional 301,349 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in Lucid Group in the 1st quarter worth approximately $29,000. Capital Square LLC grew its position in Lucid Group by 53.2% in the 1st quarter. Capital Square LLC now owns 28,515 shares of the company’s stock worth $81,000 after purchasing an additional 9,900 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Lucid Group in the 1st quarter worth approximately $716,000. Institutional investors own 75.17% of the company’s stock.

Lucid Group Company Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.